Nippon Express, Japan’s largest logistics company is buying a 22 per cent stake in Future Group’s listed logistics arm Future Supply Chain Solutions (FSC) for Rs 646 crore through a combination of primary issuance of shares and secondary purchase of shares, the company said on Friday as global majors see major uptrend in the sector on the back of e-commerce and rationalisation of existing tax regime. This would be the fourth fund raising initiative by Kishore Biyani, Future Group’s CEO in the last 12 months across group entities resulting in a cumulative capital infusion of Rs 7,450 crore.
— The Economic Times
Khaitan & Co advised
2019-09-20
Deal value: INR 6409.4 million
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